MI HB6348

Amends the Metropolitan Authority Act to modify how local community stabilization share revenues are distributed to municipalities based on personal property tax losses.

Establishes a tiered distribution system beginning in 2016 prioritizing school debt loss, tax increment finance authority losses, school operating losses, and essential services funding before distributing remaining balances based on qualified loss percentages.

Introduces a new 10% distribution to eligible municipalities starting in calendar year 2021, increasing by an additional 10% annually until reaching 100% by calendar year 2022 and thereafter.

Sets specific distribution amounts by fiscal year from 2015-2016 through 2027-2028, with amounts adjusting by personal property growth factor beginning in fiscal year 2028-2029.

Requires municipalities to allocate payments by millage type and establishes procedures for identifying and correcting overpayments and underpayments, with overpaid municipalities required to repay amounts in three equal installments or face interest charges and reduced future distributions.